Visa (NYSE: V) has announced the Visa Stablecoin Platform (VSP), an enterprise platform designed to give financial institutions, fintechs, and crypto-native companies access to stablecoin capabilities through a single Visa-managed environment.

The platform supports stablecoin minting, burning, holding, and transferring, beginning with Open USD (OUSD), a stablecoin introduced by Open Standard. VSP also includes a Wallet-as-a-Service offering that provides onchain wallet infrastructure for institutional use cases such as treasury, settlement, and liquidity management.

Jack Forestell, Chief Product and Strategy Officer at Visa, said: "With the Visa Stablecoin Platform, we're giving our clients a single place to mint, move and manage stablecoin operations with the controls, security and network reach they already expect from Visa."

VSP is designed to connect stablecoin operations with Visa's existing network, risk, and fraud tools. Features include dual-control approval workflows, audit logging, secure passkeys, and transfer allow lists. The platform is also described as interoperable with Visa's existing stablecoin offerings, including stablecoin settlement, stablecoin-linked cards, and stablecoin money movement.

Institutions can onboard into a Visa-managed wallet stack or connect existing wallets, link bank accounts, and configure user policies to govern stablecoin activity.

VSP, including Wallet-as-a-Service, is currently available for beta testing with select clients. Visa said it will use feedback from that phase to inform broader market availability.